Page 12 - EQ Mag-2019

SAVINGS RESOURCES (cont d)

EXAMPLE FORCED SAVINGS BILLS & UTILITIES

PLAN ACCOUNT

PAY/INCOME

Consolidate Debt & Eliminate Interest Costs

Interest fees can eat away at your balance without you
even realizing. Loans and credit cards incur monthly
fees, so your payments may only be covering the
charges and interest, without making a big dent in your
balance. Your priority should be to pay these debts off
first.

Seek advice from a financial expert to see whether you
can roll your debts into one loan. This will consolidate
the repayments and reduce interest and charges.

Overpay Monthly Bills To Give You A Head Start

Have you ever thought of paying a little extra to each
utility or mobile bill every time they fall due? This idea
of forced savings is clever and do-able.
Consider overpaying your bills by a few dollars each
month, and before you know it you will have approach can bring real rewards. Start putting your
accumulated a surplus. loose change into a jar or tin at the end of each day.
Five cents will become five dollars before you know it.
This may mean that eventually, you’ll have a month Make some of these simple changes to your financial
where the bill does not need to be paid at all, freeing routine and your forced savings plan is off and running. conciergemytravel.inteletravel.com
up dollars from that month’s pay for other purposes. Remember to take it slow and tinker with the ideas
until you have a system in place that works for you. If in B O O K T R A V E L . C O M
Loose Change Turns Into Dollar Amounts doubt, chat with a financial advisor who can give you
many more bright ideas for taking control of your
It sounds a little old-fashioned, but a basic piggy bank’ money.

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